The futures market is a zero-sum game, that is to say, in a game, players lose and win, and one side wins just as the other side loses, and the total score of the game is always zero. Strictly speaking, the futures market is a negative sum game, because the state has to collect taxes and futures companies have to collect commissions, so there is always money flowing out, and the result of the game is negative. The money earned by bulls or bears is the money lost by futures participants in the wrong direction, and the state will not bear the trading losses for futures traders.

As for the delivery date, it does not mean that all bulls make money. When you open more positions, the price is low, and when the price rises on the delivery day, you will make money, and vice versa.